UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 3, 2009
The Inventure Group, Inc.
(Exact name of registrant as specified in its charter)
Delaware | | 1-14556 | | 86-0786101 |
(State or other jurisdiction
of incorporation) | | (Commission
File Number) | | (IRS Employer
Identification No.) |
| | | | |
| | 5050 N. 40th St., Suite 300, Phoenix, AZ | | 85018 |
| | (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code (623) 932-6200
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Executive Cash Bonus Plan
On March 3, 2009, the Compensation Committee of the Board of Directors of the Company approved a key employee cash bonus plan for the 2009 fiscal year, in which the following named executive officers participate:
Terry E. McDaniel, President and Chief Executive Officer, is eligible to receive an annual bonus under the plan of up to $202,125.00 (50% of his base salary), 70% of which is based on the Company achieving the net income targets set forth in the plan and 30% of which is based on the achievement of individual goals.
Steve Weinberger, Chief Financial Officer, is eligible to receive an annual bonus under the plan of up to $118,256.00 (44% of his base salary), 70% of which is based on the Company achieving the net income targets set forth in the plan and 30% of which is based on the achievement of individual goals.
Steve Sklar, Senior Vice President of Marketing, is eligible to receive an annual bonus under the plan of up to $68,871.00 (31% of his base salary), 70% of which is based on the Company achieving the net income targets set forth in the plan and 30% of which is based on the achievement of individual goals.
Performance is measured for the first six months of 2009, the first nine months of 2009, and the entire fiscal year, and bonus earned for each applicable period is paid following the end of such period.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | The Inventure Group, Inc. |
| | (Registrant) |
| | |
Date | March 9, 2009 | | |
| | /s/ Steve Weinberger |
| | (Signature) |
| | |
| | Steve Weinberger |
| | Chief Financial Officer |
| | | |
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